The data from China showed that the world's second-largest
economy's manufacturing sector contracted in January at the
fastest pace since 2012.

Oil prices fell about 6 percent after the China data added
to worries about demand and an OPEC source played down talk of
an emergency meeting to stem the decline. Oil prices have fallen
more than 70 percent since mid-2014.

Adding to the cautious note, data on Monday showed that U.S.
consumer spending was unchanged in December and manufacturing
activity continued to contract in January.
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